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3/20/2019, 6:57 PM (Source: TeleTrader)
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JP Morgan's Dimon optimistic, doesn't expect Fed rate hike

JPMorgan Chase & Co. CEO Jamie Dimon (pictured) told CNBC that business leaders are optimistic about the future of the United States' economy and that the recent comments made by Fed officials point it may be a while before the US central bank hikes interest rates. "US economy is pretty strong, that is more important than gains or losses [during the individual trading days]," Dimon stated.

During an interview held after the Greater Washington Partnership and Business Roundtable lunch, Dimon added that the economy would like to see the conclusion of the Washington-Beijing trade negotiations with a good outcome, that it shouldn't be rushed, as well as that he believes in the strategy implemented by the US President Donald Trump.

Commenting on the debt-to-GDP rate in the US, Dimon said that the global rate was around 80%, which is comparable to the American debt levels, and that the healthcare, infrastructure problems should be addressed before the business tax reforms. Dimon also said that the tech giants should expect a regulatory onslaught akin to the one big banks experienced after the financial crisis in 2008.

Breaking the News / MA